Gotham Asset Management LLC Acquires New Stake in Cytokinetics, Incorporated (NASDAQ:CYTK)
Gotham Asset Management LLC purchased a new position in Cytokinetics, Incorporated (NASDAQ:CYTK) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 49,907 shares of the biopharmaceutical company’s stock, valued at approximately $641,000. Gotham Asset Management LLC owned about 0.11% of Cytokinetics, at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. FMR LLC raised its position in shares of Cytokinetics, by 2.7% in the fourth quarter. FMR LLC now owns 5,199,414 shares of the biopharmaceutical company’s stock worth $63,173,000 after buying an additional 136,758 shares during the last quarter. A.R.T. Advisors LLC bought a new position in Cytokinetics, during the fourth quarter valued at approximately $394,000. Norges Bank bought a new position in Cytokinetics, during the fourth quarter valued at approximately $976,000. Teachers Advisors LLC raised its position in Cytokinetics, by 4.0% in the fourth quarter. Teachers Advisors LLC now owns 53,278 shares of the biopharmaceutical company’s stock valued at $647,000 after buying an additional 2,025 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in Cytokinetics, during the first quarter valued at approximately $4,302,000. Institutional investors and hedge funds own 59.65% of the company’s stock.
Shares of Cytokinetics, Incorporated (NASDAQ:CYTK) traded down 10.00% during midday trading on Thursday, hitting $13.50. 911,721 shares of the stock were exchanged. Cytokinetics, Incorporated has a 12 month low of $8.51 and a 12 month high of $17.20. The company has a market cap of $657.14 million, a PE ratio of 135.00 and a beta of 1.99. The stock has a 50 day moving average price of $13.67 and a 200-day moving average price of $12.95.
Cytokinetics, (NASDAQ:CYTK) last announced its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.57) by $0.03. Cytokinetics, had a net margin of 1.53% and a return on equity of 1.94%. The company had revenue of $3.05 million during the quarter, compared to the consensus estimate of $5.28 million. On average, analysts predict that Cytokinetics, Incorporated will post ($2.02) EPS for the current year.
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Several research analysts recently commented on CYTK shares. Zacks Investment Research lowered Cytokinetics, from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 4th. HC Wainwright set a $26.00 price target on Cytokinetics, and gave the stock a “buy” rating in a research report on Thursday. ValuEngine raised shares of Cytokinetics, from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub raised shares of Cytokinetics, from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cytokinetics, in a research note on Friday, May 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $21.20.
In other Cytokinetics, news, CEO Robert I. Blum sold 5,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $12.14, for a total value of $60,700.00. Following the completion of the sale, the chief executive officer now directly owns 88,385 shares of the company’s stock, valued at approximately $1,072,993.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 15,000 shares of company stock valued at $197,750 over the last three months. 7.20% of the stock is owned by corporate insiders.
Cytokinetics, Company Profile
Cytokinetics, Incorporated is a late-stage biopharmaceutical company. The Company is focused on discovering, developing and commercializing first-in-class muscle activators as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. It is focused on the discovery and development of small molecule therapeutics that modulate muscle function for the treatment of serious diseases and medical conditions.
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